21 Irving Avenue, Box Hill VIC 3128
21 Irving Avenue, Box Hill VIC 3128
2-bed 2-bath apartment | park-side, transit-linked Box Hill | premium new-build finishes | rooftop retreat | 2025 completion
This apartment stands out as a notably strong option within Box Hill’s newer residential market. The two-bedroom, two-bathroom layout with one car space is well-suited to owner-occupiers and downsizers who want lift-access convenience without giving up functional space. Its park-side position beside Box Hill Gardens is uncommon for a development of this scale, and the building’s amenity package—rooftop retreat, gym, coworking areas—provides a lifestyle layer that older apartment stock in the suburb cannot match. The zoning for Mont Albert Primary School and Box Hill Senior Secondary College also broadens its appeal to families seeking a low-maintenance home within a solid school catchment, while proximity to Box Hill station, trams, and the Eastern Freeway strongly favours professionals and health-sector workers. This property serves best those who prioritise a connected, low-upkeep residence without sacrificing access to retail, healthcare, or transport hubs.
The property’s value may be shaped by its exact floor level and aspect, as a park-facing outlook could attract a premium over units looking toward the street or neighbouring buildings. Being newly completed in early 2025, depreciation benefits might be available to investors, but a thorough building inspection is wise to rule out early construction defects. The growing supply of high-density apartments in Box Hill could moderate price appreciation, while the indicative rent of $675 per week points to a gross yield near 5.2%—useful for assessing rental demand. Both owner-occupiers and investors should weigh these elements when forming a view on what this unit is worth.
Detailed Independent Property Report prepared by PropCred Analyst team for 21 Irving Avenue, Box Hill VIC 3128
Checks found:
Value Risk
2
Liquidity Risk
2
Planning Risk
2
Income Risk
Execution Risk
1
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Market Insight
Box Hill is a densely developed eastern Melbourne hub where units dominate at 78% of dwellings, with a young professional skew and median age of 33. Demand is largely rental-driven—56% of households rent—while first-time buyers face high entry barriers given house prices around $1.67–1.71 million, though one source records $1.4 million. House price momentum is mixed: a 0.44% annual gain contrasts with a -1.7% compound decline, and the REIV shows a sharp -10.7% quarterly drop. Sales are thin at 50–56 a year, and days on market have stretched to 80, up 29%, signalling a cooling market. Units are more affordable at about $500,000 but have fallen 10–15% year-on-year, suggesting apartment oversupply; unit yields of 5.9–6.3% support investor interest, while house yields sit at just 2.4%. Key constraints include affordability barriers, rate sensitivity, and auction clearance rates of 58–66%, well below Melbourne’s 77.8% average.
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PropCred Estimated Value
Comparable Sales: 2-bed unit at 19 Irving Avenue sold $655,000; 25 Irving Avenue unit sold $670,000 | Property Price Band: $600,000–$700,000 | Value Drivers: park aspect, floor level, premium finishes
Bedrooms
2
Bathroom
2
Parking
1
Land
1294m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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